Bitcoin

MicroStrategy Bitcoin Purchase: Surpasses $4.68 Billion Investment Mark

64 days ago - Around 2 mins mins to read

Key Points:

  • MicroStrategy added $147.3 million worth of Bitcoin, now holding over 158,000 BTC valued at $4.68 billion.
  • Michael Saylor champions Bitcoin’s role as digital gold and a Treasury reserve asset.
  • Saylor underscores Bitcoin’s appeal as an inflation hedge amid varying inflation rates worldwide.
On September 24, 2023, MicroStrategy, a firm known for its unwavering faith in Bitcoin, added another 5,445 BTC to its corporate treasury at an average cost of approximately $27,053 per Bitcoin.
MicroStrategy Bitcoin Purchase: Surpasses $4.68 Billion Investment Mark

MicroStrategy Bitcoin Purchase Soars to $4.68 Billion

This latest acquisition, announced by co-founder Michael Saylor via X today, reaffirms the company’s commitment to the world’s leading cryptocurrency.

With this purchase, MicroStrategy’s total Bitcoin holdings now stand at an astonishing 158,245 BTC, acquired at an average price of roughly $29,582 per Bitcoin, amounting to approximately $4.68 billion in total investment. Saylor emphasized that as of September 24th, the company’s Bitcoin stash had already reached these impressive figures.

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Saylor Promotes Bitcoin’s Role as an Inflation Hedge Gains Momentum

Saylor has consistently advocated for Bitcoin, hailing it as the digital equivalent of gold and a crucial strategic asset for Treasury reserves.

In a recent interview with American financial expert Stephen Gardner, Saylor highlighted the enduring asset inflation rate of 7-8% in the United States over the past century, contrasting it with consumer inflation, which has averaged around 2%. He also noted that asset inflation in countries with weaker economies often surpasses double digits, reaching approximately 14%.

MicroStrategy’s continued dedication to Bitcoin reflects a broader trend of institutional adoption of cryptocurrencies as a store of value and an inflation hedge in today’s evolving financial landscape.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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